[UPDATED] Local Startup Dispatch Closes An Oversubscribed $2m Seed Round


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Updated 7/3/18 Dispatch has closed on the “rolling $2m” round…

as referenced below, oversubscribed to the tune of $2.6m including investors Gopher Angels & Rise of the Rest Seed Fund.  “Revenues have tripled in the last 90 days”…Series A is imminent. The company now has 20 full time and 30 part time employees.

Original 2/7/18:

Local startup Dispatch has expanded its tech-enabled B2B courier service beyond Minnesota into four other markets: Chicago, Cincinnati, Kansas City, and most recently, Dallas.

It was previously projected by founder Andrew Leone that Dispatch would be going into new markets if everything went according to the plan. A year later — and a lot of hustle — the 30 person distributed team is executing on that plan.

“The more we scale, the more our drivers talk, the more organic pull we get into new geographies,” Leone says, noting that Dispatch has been used sparingly in a handful of other places already but considers those listed above “open” where there’s a local manager and a handful of active drivers out on the streets consistently using the platform.

“We’re at about 15,000 unique deliveries as of this month,” Cofounder Ryan Hanson explains, which translates into a six figure monthly gross recurring transaction revenue, of which Dispatch keeps a slice for facilitating the service.

“And we are tracking for 100,000 deliveries by the end of 2018,” he adds. If achieved, that would put Dispatch in the quarter million a month level.  “We have a few more big markets ahead of us as we continue growing” Leone concludes.

The venture has raised approximately $1m of a rolling $2m first round, the majority of which has come from existing customers, and external early-stage investor Great North Labs.